Start here if you're new
what it is
Atlanticus lends money through credit cards and auto loans, then collects interest and fees.
how it gets paid
Last year Atlanticus made $2.0B in revenue. Credit card receivables and servicing was the main engine at $1.10B, or 55% of sales.
why it's growing
Revenue grew about 50% last year on a ~$2.0B annual base. The business is levered and fee-heavy, so the income statement can move fast when receivables and volumes shift.
what just happened
The latest quarter printed roughly ~$500M of revenue (~one-fourth of the ~$2.0B year) with EPS near ~$1.05 — still a profitable, busy period versus the prior year.
At a glance
C+ balance sheet — struggling to keep the lights on
30/100 earnings predictability — expect surprises
9.5x trailing p/e — the market's not buying it — or you found a deal
22.1% return on capital — every dollar works hard here
$4.77 fy2024 EPS (FY basis, not TTM)
xvary composite: 29/100 — weak
What they do
Atlanticus lends money through credit cards and auto loans, then collects interest and fees.
Atlanticus is small, but it works a wide network. It served more than 690 dealers across 33 states and two U.S. territories, so your local lender is not really local. Operating margin (FY) → profit left after running the business → 24.1% says the model keeps $24.10 from each $100 of sales.
How they make money
$2.0B
annual revenue · their business grew +50.1% last year
Credit card receivables and servicing
$1.10B
Auto finance
$0.40B
Servicing fees
$0.20B
Floor-plan financing
$0.16B
Other investments and credit products
$0.14B
The products that matter
private-label credit cards
Credit as a Service
$1.4B disclosed scale
this channel pushed managed receivables to $7.0B, up 155.2%, which tells you the balance sheet is expanding faster than the income statement.
main growth engine
vehicle floor-plan financing
Auto Finance
$0.6B disclosed scale
it is listed here at $0.6B, or about 30% of the disclosed business mix, giving you a second lending channel outside cards even though this page does not break out its standalone margin.
secondary engine
Key numbers
24.1%
operating margin (FY)
For every $100 of revenue, $24 survives after running the business.
22.1%
return on capital
The business made $22.10 on each $100 it put to work.
9.5x
trailing p/e
You are paying 9.5 times last year's earnings, which is cheap next to the market's usual teens.
$6.0B
long-term debt
The debt stack is 89% of capital, so funding costs matter more here than in a normal lender.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 10 / 100
- long-term debt $6.0B (89% of capital)
C+ — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for ATLC right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue near ~$500M for the quarter and EPS near ~$1.05 — consistent with a ~$2.0B year, not a second full year in one quarter.
Full-year revenue on the page is ~$2.0B with roughly +50% growth last year. Quarter-over-quarter and prior-year prints vary by line item in specialty finance; use the filing for the exact period labels.
~$500M
revenue (q)
~$1.05
eps (q)
~50%
fy rev growth
the number that mattered
Scale on the balance sheet (~$6.0B debt vs ~$716M equity) matters as much as any single quarter headline — funding cost and credit quality drive the equity.
source: company earnings report, 2026
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What could go wrong
the #1 risk is credit losses inside a rapidly expanding non-prime receivables book.
med
the book is growing faster than your comfort level should
Managed receivables reached $7.0B, up 155.2%. In non-prime lending, fast growth can hide weak credit until losses season.
If underwriting slips, the problem sits under the full $7.0B receivables base, not just one small segment.
med
debt is doing most of the work
Long-term debt is $6.0B, or 89% of capital. That leaves little room for funding pressure or a tougher credit market.
A lender with a C+ balance sheet does not need a disaster to disappoint you. It needs funding to get less forgiving.
med
cheap can stay cheap when predictability is low
ATLC trades at 9.5x earnings, but earnings predictability is 30 / 100 and price stability is 10 / 100. The market is not giving it a premium multiple because the path is smooth.
If growth cools from the recent 107.9% pace before the balance sheet improves, the discount can stick around longer than you want.
you are being paid with a low multiple because the market does not trust the funding and credit cycle.
source: institutional data · regulatory filings · risk analysis
Pay attention to
credit growth
managed receivables after the $7.0B mark
155.2% growth got attention. What matters next is whether receivables keep climbing without the balance sheet looking worse.
funding risk
debt load versus earnings growth
$6.0B of long-term debt and 89% of capital is the number pair to track. If earnings slow while debt stays heavy, the cheap multiple stops helping.
calendar
next quarterly report
The next release needs to answer one question: was the $734.4M quarter a new level or a spike.
trend
buybacks versus book growth
The company repurchased 294,320 shares in Q4 2025. Watch whether buybacks continue while receivables keep expanding. That tells you how management sees intrinsic value versus growth needs.
Analyst rankings
earnings predictability
30 / 100
in human-speak, quarterly numbers are hard to model and the surprises can be large.
risk rank
5
this sits near the risky end of the spectrum. you own it for upside, not sleep.
price stability
10 / 100
the stock does not absorb bad news well. it reprices fast.
source: institutional data
Institutional activity
institutional ownership data for ATLC is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$67
current price
n/a
target midpoint · n/a from current
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